Tyra Biosciences (NASDAQ:TYRA) Hits New 52-Week Low – Here’s Why

Tyra Biosciences, Inc. (NASDAQ:TYRA) shares hit a new 52-week low on Wednesday . The company traded as low as $11.91 and last traded at $12.13, with a volume of 432196 shares changing hands. The stock had previously closed at $12.39.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TYRA shares. Wedbush reissued an “outperform” rating and set a $28.00 price objective on shares of Tyra Biosciences in a research report on Friday, October 25th. Bank of America upgraded Tyra Biosciences from a “neutral” rating to a “buy” rating and increased their target price for the stock from $22.00 to $31.00 in a report on Friday, October 18th. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of Tyra Biosciences in a report on Monday, January 13th. Finally, UBS Group began coverage on Tyra Biosciences in a research report on Tuesday, January 7th. They set a “buy” rating and a $28.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Tyra Biosciences presently has a consensus rating of “Buy” and an average price target of $30.50.

Tyra Biosciences Trading Down 2.1 %

The firm’s 50 day simple moving average is $14.92 and its 200-day simple moving average is $18.60. The stock has a market capitalization of $613.78 million, a price-to-earnings ratio of -7.53 and a beta of 1.05.

Insider Activity at Tyra Biosciences

In other news, Director Nina S. Kjellson sold 5,401 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $13.76, for a total value of $74,317.76. Following the completion of the sale, the director now owns 443,885 shares of the company’s stock, valued at approximately $6,107,857.60. This represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 21,998 shares of company stock valued at $344,818. 15.40% of the stock is owned by insiders.

Institutional Trading of Tyra Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in TYRA. EntryPoint Capital LLC acquired a new position in shares of Tyra Biosciences during the 4th quarter worth about $253,000. KLP Kapitalforvaltning AS acquired a new stake in Tyra Biosciences in the 4th quarter valued at about $31,000. Raymond James Financial Inc. bought a new position in Tyra Biosciences during the fourth quarter worth about $761,000. Victory Capital Management Inc. increased its position in Tyra Biosciences by 88.3% during the fourth quarter. Victory Capital Management Inc. now owns 56,640 shares of the company’s stock worth $787,000 after buying an additional 26,560 shares during the last quarter. Finally, Alta Partners Management Company L.P. bought a new stake in Tyra Biosciences in the fourth quarter valued at approximately $56,716,000. 84.14% of the stock is owned by institutional investors.

Tyra Biosciences Company Profile

Tyra Biosciences, Inc, a clinical-stage biotechnology company, develops precision medicines for fibroblast growth factor receptor (FGFR) biology in the United States. The company offers SNÅP, a precision medicine platform that enables drug design through iterative molecular snapshots to predict genetic alterations for developing therapies targeting oncology and genetically defined conditions.